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Sep 26, 2012 8:00pm PDT
of institutions. and a lot of this was being driven by citibank. >> eliot: you go through detail about how you think tim geithner was there protecting citibank and the rest of it was a camouflage. >> certainly the capitol injections. there was a liquidity problem. things were spinning out of control, and banks were having a hard time rolling new debt. there was a problem there. it was more with the investment banks than the commercial banks -- >> eliot: and they depend on day-to-day borrowing -- >> exactly. whereas commercial banks have deposits that are sticky because they are government guaranteed, so they are stable. citi relied heavily on wholesale markets -- >> eliot: let me jump to the issues that you focus on. they didn't do anything for the mortgage relief that was critical for the economy. >> no they didn't. we had some soft language theying they should do their best which they agreed to but didn't do that. >> at the moment tim geithner said i have what you need -- they didn't reform anything. why not? >> because they didn't really need capital. citi needed capit
Search Results 0 to 1 of about 2 (some duplicates have been removed)